beginner fibonacci tecnicals
TRANSCRIPT
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Fibonacci Technical Analysis:
An Introduction
Ilya Spivak and John Rivera
Currency Analysts
DailyFX
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Risk DisclaimerLeveraged foreign exchange and options trading carries a significant level of risk,
and may not be suitable for all investors. The high degree of leverage can work
against you as well as for you. Before deciding to invest in foreign exchange youshould carefully consider your investment objectives, level of experience, and risk
appetite. You should be aware of all the risks associated with foreign exchange and
option trading, and seek advice from an independent financial advisor if you have
.
time without notice.
There is no guarantee that the systems, trading techniques, trading methods,
indicators or other information presented at this seminar will result in profits or
not result in losses. The content is provided for informational purposes only and is
not intended as a trading recommendation.
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Intro to Fibonacci Analysis
I. Origins of Fibonacci
II. Fibonacci Numbers in Technical Analysis
III. Applying Fibonacci Long Term Perspective
IV. Applying Fibonacci Short Term Perspective
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Named after Italian mathematician Leonardo of Pisa,
nicknamed Fibonacci (meaning Son of Bonaccio)
Introduced to Western Europe in Liber Abaci (1202)
Origin of Fibonacci Numbers
Previously Described in Indian Mathematics
Sanskrit Prosody: Syllables Long -2, Short-1
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Fibonacci Numbers: 0,1,1,2,3,5,8,13,21,34,55,89,144
Divisibility Sequence
Number in the Series = 1.618 x Previous Number
The Fibonacci Number Sequence
23.6% (3), 38.2% (2), 61.8% (1)
50.0%: Not a Fibonacci Number but Added for Significance
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Branching in Trees
Fruitlets in a Pineapple
Arrangement of a Pine Cone
Fibonacci in NatureFibonacci in Nature
Sunflower Florets
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= (1+5)/2 1.6180339887
61.8%
Like every number sequence defined
The Golden Ratio
by linear recurrence, Fibonaccinumbers have a closed-form solution.
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Markets Dont Move in Straight Lines
Source: FX Trek IntelliChart
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Why Do Markets Retrace?Point A: Start of Initial Advance Price begins to rise as buyers enter the market
Gains encourage new buyers, pushing prices higher
Point B: Pullback/Correction Begins Supply meets Demand
Price too expensive to attract new buyers
Market turns sensitive to counter-trend events
Point C: Advance Resumes Lower price brings in new buyers
Bulls that booked profits re-enter trade
Source: FX Trek IntelliChart
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Enter: Fibonacci
In TRENDING markets, the Fibonacci number sequence
can be used to help forecast the likely depth of acounter-trend retracement, hinting where a correction
may end and the dominant trend resume.
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Using Fibonacci 2 Step Process
Step 1 :
Identify the START and
END of a single move in
Source: FX Trek IntelliChart
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Using Fibonacci 2 Step ProcessStep 2 :
Draw Fibonacci trend line
from the START of the
Source: FX Trek IntelliChart
,
direction of the trend.
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Fibonacci Across Time Frames
Source: FX Trek IntelliChart
NZD/USD - Weekly
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Fibonacci Across Time FramesInitial
Advance
Source: FX Trek IntelliChart
NZD/USD - Weekly
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Fibonacci Across Time Frames
Source: FX Trek IntelliChart
NZD/USD - Weekly
.
Retracement
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Fibonacci Across Time Frames
Source: FX Trek IntelliChart
NZD/USD - Weekly
Resumes
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Fibonacci Across Time Frames
Source: FX Trek IntelliChart
GBP/USD - Monthly
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Fibonacci Across Time FramesInitial
Advance
Source: FX Trek IntelliChart
GBP/USD - Monthly
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Fibonacci Across Time Frames
Source: FX Trek IntelliChart
GBP/USD - Monthly
38.2%
Retracement
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Fibonacci Across Time Frames
Uptrend
Resumes
Source: FX Trek IntelliChart
GBP/USD - Monthly
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Fibonacci Across Time Frames
.
Retracement4
GBP/USD 5 MinSource: FX Trek IntelliChart
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Fibonacci Levels As Targets
GBP/USD - DailySource: FX Trek IntelliChart
Break of Support Leads
To Accelerated Losses
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Fibonacci Levels As Targets
Solid S/R Lines Can Be
Targeted For Scalping
Opportunities
Source: FX Trek IntelliChart Source: FX Trek IntelliChart
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Questions?